Hi 7bit,
I recently stumbled upon this thread and the following idea came into my mind:
I want to trade 3 positively correlated pairs with comparable ADR at the same time
Pair1 long only (e.g. EURJPY)
Pair2 short only (e.g. CHFJPY)
Pair3 both direction (e.g. GBPJPY)
The thought on this constellation is, that 2 of the 3 pairs should trade in the right direction
What I would like to have changed/added is to have a seperated input for stoploss. So I could test 2 different settings where one of them would run with SL=0. Maybe that could help on not getting whipsawed so much
The closure of the whole basket could be managed by MPTM
Would like to hear your opinion
Greetings from Germany
I think I can cancel the change request, because the 3pairs trading style obviously doesn't have an edge over bidirectional trading of a single pair.
I'm currently playing around with MT5 and the only way to hedge a position is to trade a positively correlated pair in the opposite direction. That's where this idea was born.
Seeing as this thread got a bump... I thought I would share this screen capture. This is shows what is possible with the snowball EA. I don't recall the exact details but I think it was a 10 pip grid spacing and something like 20 levels past break even.
What happened next is even more interesting. After the big move the price started to consolidate, resulting in lots of SL being hit and eroding my balance. The balance actually became negative but I still had plenty of free margin due to the floating profit. Finally stopped it (manually) when the equity fell back to 600.
If only that account had a couple more zeros. Such is life.
Hi Xorpheus.
Do you still continue using this EA ?
Are you putting it on chart checking support and resistance or only put ramdon on intraday and manage orders ?
Hi Xorpheus. Do you still continue using this EA ? Are you putting it on chart checking support and resistance or only put ramdon on intraday and manage orders ? Thanks in advance
Ignored
Yes I still use it. Definitely not random. Only when I'm expecting a range breakout or large directional move. I don't use bidirectional mode either. Choose long or short and be prepared to change your mind if subsequent price action invalidates your initial decision. Sometimes I stop the thing with a loss if it seems like a lost cause.
Hello 7bit,
its been along time but till date there is no replacement for your EA.
But with the latest MT4 the snowball and the include files are giving errors, any chance that you can fix them?
Appreciate.
wadib
I stumbled upon this thread today 'cause of my interest in pyramiding in to trades.
It would be great if we could start a trade with a BL or SL and then continue with Buy stops or Sell stops...also to preserve the gains a trailed stop would be very usefull for people that can't stay in front of the screens.
Great EA.
BR,
Edensgarden
Amazing EA and logic behind it, played in visual mode and now I'll start live demo with AUDUSD h4, long at the SD-2 from regression line (1000 periods) with take profit at the RL. Need to be patient.
This EA sound interesting and maybe it will be the solution that I am searching for.
But could you tell me if I put stop loss to the stop orders using another EA, will it be able to re open the same trade if the price get back to same place when it originally was opened?
Can anyone add this to this EA?
Thanks
Hello This EA sound interesting and maybe it will be the solution that I am searching for. But could you tell me if I put stop loss to the stop orders using another EA, will it be able to re open the same trade if the price get back to same place when it originally was opened? Can anyone add this to this EA? Thanks
Ignored
It works (the compiled versions from this page), you need to drag the buttons (here they are labels).
This is all I can say because I just started testing.
Good luck.
